The Product Strategy Cycle

Roman Pichler

Traditionally, strategy and execution are often viewed as separate, sequential pieces of work that are carried out by different people. For example, a product manager might determine the product strategy and one or more development teams might be tasked with executing it.

A Strategy Map

Roman Pichler

The map below shows the strategy tools I find helpful to make effective product strategy decisions. As the Strategy Map above shows, you should be aware of the overall business and product portfolio strategy in order to make the right strategic product decisions, as these provide the necessary context. The Strategy Map can help you check if you have any strategy blind spots. The post A Strategy Map appeared first on Roman Pichler.

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Demystifying Product Strategy by Amy Zima

Mind the Product

In this November 2020 #mtpcon Digital session, Amy Zima, the Principal Product Manager at Spotify, aims to demystify the process involved in creating a strategy, offering a case study and sharing lessons learned. The word strategy can inspire fear or awe in product managers, says [.].

Good Strategy, Bad Strategy

Product Bookshelf

Good Strategy Bad Strategy: The Difference and Why It Matters by Richard Rumelt. The big idea: Strategy is not goal-setting, vision creation, or agreeing on principles and aspirations. With a good strategy, you can overcome the critical issues your product faces.

The Connected Journey: Developing your Empathy to Strengthen Strategies for Customer Relations

Speaker: Esther Kieft, Delivery Manager (Group Technology) at Domino's Pizza Enterprises

It is well known that empathy is a key ingredient in creating lovable products, yet not all products offer the best customer experience. From meeting stringent deadlines to insufficient resources being available to carry out customer research, there is a range of reasons why customer empathy could be missing in product development. Join Esther Kieft, as she breaks down using empathy at a distance to evaluate the problems that customers are experiencing during this global health crisis.

Atomic Product Strategy, By Rob Hayes

Mind the Product

Every team needs a product strategy. The Business Model Canvas, Bootstrap or Atomic Design – it seems like everyone from MBAs to developers to designers seems to have a framework to structure their strategy, except for product managers.

4 Ways to Level-up your Product Strategy

Mind the Product

Developing your product strategy and communicating your product roadmap is a continual improvement process. The post 4 Ways to Level-up your Product Strategy appeared first on Mind the Product.

Establishing an Effective Product Strategy Process

Roman Pichler

Why a Product Strategy Process Matters. An effective product strategy process should ensure that a valid product strategy and an actionable product roadmap are always available—that a shared and valid approach to achieving product success is available at anytime, as the picture below illustrates. In the picture above, the product strategy describes how a visionary, inspirational goal is attained. As helpful as it is to create a product strategy, it is not enough.

Why Product People Should Care About Business Strategy

Roman Pichler

Business Strategy vs. Product Strategy. A business strategy describes how a company wants to achieve its overall aspiration and create value for its users, employees, and shareholders. It’s distinct from the product strategy : The business strategy states how the company will be successful, whereas the product strategy describes how a product will achieve success, as the following picture illustrates. Elements of an Effective Business Strategy.

Creating a Product Strategy – Is it Worth the Effort?

Proficientz

Is creating a product strategy worth the effort? Creating a product strategy isn’t easy for product managers. Make the exercise of creating a product strategy more about customer outcomes than product success and it becomes a pretty simple exercise.

Ask the "Right" Questions: Your Analytics-Guided Product Strategy

Speaker: Yoav Yechiam, Founder and Head Instructor, productMBA

Analytics are highly important for product managers - and yet, analytic implementations often fail to actually help us. It's not the technology, and it's not the tactics. In most cases, it's our approach that's misguiding us! Analytics are there to answer important product questions, not just to collect data. How can we be mindful of our analytics so they enable us, rather than confine us? Join Yoav Yechiam, Founder and head instructor at productMBA, as he explains best practices for a data-guided strategy that helps product managers get to the "why" of their biggest product goals.

Rediscover the Forgotten art of Product Strategy

Mind the Product

A strong product strategy is often neglected because of the absence of any strategic thinking in product teams. What can product managers do to make sure they give their product strategy the attention it warrants? Tanya shares her ideas for nurturing a strong product strategy from this year’s #mtpcon London Product Leadership Forum. It’s about 20 years since Ben Horowitz wrote his now-famous piece “Good Product Manager/Bad Product Manager”.

Leading product strategy and execution

Lead on Purpose

There are many moving parts to product success, including understanding your market and the problems customers in the market face, … Continue reading → Leadership Product Management Team Building Trust collaboration discipline execution markets roadmap strategy success value

Trailblazing Women in Product Management: Denise Hemke, VP, Analytics Product Management and Strategy at Workday

280 Group

In honor of International Women’s Day, 280 Group is hosting a panel discussion on how trailblazing women paved their way into Product Management. How did you get into product management? I had contemplated Product Management at different points of my journey in Engineering, but honestly—I was in my own head. Later, at a startup, due to limited Product Managers, I got the chance to try the role before committing to it. Women in Product Management

Testing Your Strategy

Dear Strategy

On this episode of Dear Strategy, we answer the following question…. Dear Strategy: “Is there a way to test your strategy prior to implementation?”. If you feel the need to test your strategy before you implement it, then you may be thinking about your strategy in the wrong way.

How Product Managers Can Learn to Love Reporting

Speaker: Eric Feinstein, Professional Services Manager, Looker

For a long time, Product Managers have found it challenging to design interfaces inside their products that users could use for reporting. Eric Feinstein, Professional Services Manager at Looker, has done workshops with product managers who are looking to add effective reporting. He will use the example of a product manager of a learning management software system and how she would go through the process of defining reporting for users of the product.

TEI 309: Product management strategy – with Allan Anderson, PhD

Product Innovation Educators

The importance of an organizational game plan for product managers. I started a new series to explore the Product Development and Management Body of Knowledge. Today we are discussing strategy. Today, we focus on strategy. 2:28] What is strategy?

Five Strategies to Gain Massive Success in Product Management

280 Group

To learn more about these strategies and specific actions you can take to rise in your career, join our upcoming co-hosted webinar with AIPMM, How to Accelerate Your PM Career, Part 3: Five Critical Strategies to Succeed in Your PM Career. Doug, the Product Manager. He was a Product Manager responsible for a fairly important product. He applied the five strategies below. Strategy #1 Evangelize Your Role. Strategy #2: Be More Efficient.

Product Strategy Lessons From Henry Ford

The Product Coalition

In our world, this would have been considered a great product strategy. If Ford’s strategy would have stayed at the highest level of “selling a car”, marketing could have only talked about the generic qualities of cars (get faster from one place to another, and don’t clean after your horse).

Modus Product Management and Strategy Practice

Modus Create

Product management teams are overwhelmed. The root cause: there is no universal definition of what product management is, and as generalists, product managers end up doing everything. We have developed a product strategy practice to strengthen our product team and enable them to avoid getting overwhelmed with tasks outside of this practice. We are thought leaders who contribute to the discussion about the evolution of product management.

Measure the Immeasurable: Beyond Vanity Metrics

Speaker: Sari Harrison, Product Management Instructor, Product School

As a product manager, it's your job to realize your product’s vision by executing your chosen strategy. It’s also your job to deliver value to the business. Ultimately, these two outcomes are aligned so the temptation is to focus primarily on business metrics. Doing this can cause you to lose focus on the real value you are trying to achieve, in favor of moving the vanity metrics such as launches and time spent. Join Sari Harrison, Product Management Instructor at Product School, as she explains how to use immeasurable success criteria along with your more standard KPIs to deliver products that don't just get used a lot, but deliver real value.

How to Create a Product Strategy Without a Clear Company Strategy

Mind the Product

Having “no company strategy” is one of the biggest issues facing product managers, according to a recent survey of over 600 product people. All that was left was to share it with senior management and get the go-ahead…. We were successful in “selling” our vision and strategy, and were allocated funds to deliver it. The post How to Create a Product Strategy Without a Clear Company Strategy appeared first on Mind the Product.

Shifting Markets, Shifting Strategy: Three Considerations

Proficientz

Shifting markets usually constitute a shift in product strategy for most organizations. In either case, there are three key aspects of product strategy that matter most. Portfolio & Product Strategy. When the market experiences a sudden shift, the worst of all possible product strategies is a smattering of incremental enhancements across all products. Contact us to facilitate your next strategy meeting.

Top Strategies to Advance Your Product Management Career Rapidly – Part 1

280 Group

This article is the first in a three part series on how to accelerate your Product Management career. To learn about these strategies more in-depth and receive a Product Management Career Plan Template, sign up for the webinar – How to Accelerate Your PM Career, Part 1: Top Strategies to Advance Rapidly on September 27, 2019. My next step would have been Vice President of Product Management and then probably a CEO of a start-up or a publicly held company.

Plan Product Strategy from Business’ Angle

The Product Coalition

It’s common in product management that product managers work on components, features, or functions that are part of a product. Lack of a big picture or a high-level perspective would make product management fragmented?—?we How should we plan product strategy so that each component/feature/function is moving towards the same direction, and they interact with each other to create synergies and cohesiveness?

Your 2-Part Metrics Audit for High-Value Products

Speaker: Sam McAfee, Product Development Consultant, Startup Patterns

You know what they say: what's measured improves. As product managers we're in a golden age of being able to get all sorts of metrics and run all sorts of experiments. But what are your measurements and analytics focused on? Are they really truly objective? Do they contribute to the ultimate vision of your product? And is everybody clear on that vision? Join Sam McAfee, Product Development Consultant, as he takes you through a two-part measurement audit. First, you'll learn how to make sure your measurements actually align with your product strategy. And second, you'll learn how to evaluate your culture of using measurements, so future experiments will more consistently provide high-value results.

Product Strategy, the Missing Link by Nicholas Goubert

Mind the Product

It may be obvious, but defining your strategy, goals, and mission is something we all need to have rooted at the heart of everything we do – but it’s very easy to get pulled in countless different directions while we try to deliver against these. It’s not just that “business as usual” gets in the way, changes to an organisation’s executive groups and tweaks to the company vision can lead to disconnects between strategy and tactics.

Product Pricing (3/4): Strategy

The Product Coalition

3 Must-Know Pricing Strategies and the Inputs to Drive Them Continue reading on ProductCoalition.com ». product-marketing pricing pricing-strategy marketing product-management

You Need A Product Strategy by Sam Odio

Mind the Product

Shipping product to 500 million users without knowing what strategy was? In this ProductTank San Francisco talk, Sam, now with that experience behind him and as Head of Product at Fivestars , outlines: What a good product strategy looks like. How to create a good strategy. What Is Good Strategy? When you look at different frameworks for defining a product strategy there are so many possible definitions. Creating a new product strategy can take years.

Product Strategy and Skill Development: Learnings from the #mtpcon Session Speakers

Mind the Product

In this first, Breakout Session release from #mtpcon Digital 2020, you can delve into four of the event’s deep-dive sessions focusing on product strategy and skill development.

The Magic of Intent: Start Knowing The Goals of Your Users

Speaker: Terhi Hanninen, Senior Product Manager, Zalando, and Dr. Franziska Roth, Senior User Researcher, Zalando

It's important to know your users - what are their preferences, pain points, ultimate goals? With user research and usage data, you can get a great idea of how your users act. The tricky part is, very few users reliably act the same way every time they use your product. Join Terhi Hanninen, Senior Product Manager, and Dr. Franziska Roth, Senior User Researcher at Zalando, as they explain how they were able to reach a new level of user understanding - by taking their user research and segmenting their users by point-in-time intent. You'll leave with a strategy to change how your product team, and organization at large, understands your users.

Top Strategies to Advance Your Product Management Career Rapidly – Part 4

280 Group

Management is doing things right. Product Management is a unique role because Product Managers have all the responsibility for a product’s success yet no formal authority. As big fans of Peter Drucker, we particularly like this definition of Leadership: “Management is doing things right. We’ve both had managers who’ve had lots of concern for their people, but their teams didn’t get anything done. Leadership is doing the right things.” — Peter Drucker.

Top Strategies to Advance Your Product Management Career Rapidly – Part 2

280 Group

You need to have solid data and excellent information so that when the team or management is discussing your product or your market you are able to step in with timely and highly relevant information. Whether you do Product Management, marketing, product marketing or even finance you need to become incredibly good at it so that everyone knows you are a master of your trade. Study your competitors and analyze their marketing and product strategies. Product Management

Product Management Strategies for Supporting Collaboration by Gretchen Anderson

Mind the Product

In relation to product management, teams could focus on a vision of the future and dedicate time to co-creating it. The post Product Management Strategies for Supporting Collaboration by Gretchen Anderson appeared first on Mind the Product. Guest Post Product Management Characteristics Product Management Skills Video Collaboration product management ProductTank San Francisco

What is Good Product Strategy?

Melissa Perri

“What is your Product Strategy? YOU NEED A STRATEGY.” This didn’t sit well with the CTO because in reality he didn’t want a strategy, he wanted a plan. This is the way we were taught to think about Product Strategy. Most companies fall into the trap of thinking about Product Strategy as a plan to build certain features and capabilities. To create a backend system that will allow the sales team to manage their leads.” “To Product Strategy Animation.

Build Your Products to Be Business Savvy

Speaker: Amber Kearney, Product Manager, Capital One

Stakeholder decisions should not be the only business-minded facet of a product team. While the user experience should be your focal point, the product must adapt and succeed in the context of a larger economic climate. Why see business sense as an outside force? It's time to make business a part of the product's very anatomy. Join Amber Kearney, Product Manager at Capital One, and master business savvy in reporting and strategy.

Top Strategies to Advance Your Product Management Career Rapidly – Part 5

280 Group

In the first four parts of the Product Management Career Acceleration Series, we focused on providing you with strategies, tips, techniques, leadership approaches, and even sins to avoid, to be a more effective Product Manager – the kind that can advance in their career rapidly. Now that you know how to be the best Product Manager you can be, how do you prove it to everyone else when looking to advance in your career? Help hiring managers know what your focus is.

Top Strategies to Advance Your Product Management Career Rapidly – Part 3

280 Group

Read Part 2 of this 3 part series: Top Strategies to Advance Your Product Management Career Rapidly – Part 2. Back when I was with Apple years ago, there was a Product Manager who had done just a phenomenal job. When people talk about that same Product Manager they always remember that she walked off the job, but they rarely remember all of her great accomplishments. Join Product Management associations. Product Management

Strategy, optionality and Managing Two Products at Basecamp

Business of Software Conference

Strategy, Optionality and Managing Two Products at Basecamp. Part 2 of 3 – here we discuss how Jason and David think about strategy and manage risk at Basecamp, and find out how they plan to manage two products following the launch of their new email service Hey.com.

Women in Product Management: Gaining Recognition – You Asked, We Answered.

280 Group

This month, we presented a webinar from our Product Management Leadership series – No Bragging Required: How Women in PM Can Get the Recognition They Deserve. In a few situations, I have had managers who did not want me to connect with people on other teams. I would ask my manager, a trusted peer and mentor. For those who are new to Product Management, invest in time to lean to speak clearly. I have a manager who does not communicate information.

Creating a Product Roadmap is Easy

Speaker: Shardul Mehta, VP of Product Management, Amwell

As a product manager, it is our job to drive sustainable business growth. And one of the chief ways we do that is by crafting a coherent product roadmap. Thanks to these roadmaps, everyone knows what we’re working on now vs. later, where we’re headed, and how we’re getting there. Fail at making this map, and you sacrifice not only your own credibility, but the credibility of the entire company. The bad news? Product managers rarely have the time to adequately prepare. The good news? While we should absolutely do the research and analysis needed to craft a proper roadmap, we actually don’t need to wait until it’s completed. We can actually do both in parallel. And what’s more is that once you can do that, product roadmapping becomes easy. Join Shardul Mehta, VP of Product Management, American Well, and learn how to master the intricacies of any product roadmap.